Economic Survey Highlights: FY20 GDP growth rate projected at 7%, CEA says economy poised for takeoff

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Updated:Jul 04, 2019 3:17:28 pm

Economic Survey 2018-19 Highlights: Economic Survey 2019 has been tabled in the Parliament, FY20 GDP growth rate is estimated at 7%. The country's GDP growth has averaged 7.5 percent in the last five years of the Modi govt.

Economic Survey 2019 Live, Economic Survey of India LiveEconomic Survey 2019 Live, Economic Survey of India Live: The Economic Survey 2019 will be tabled in Parliament Thursday.

Economy Survey of India 2018-19 Highlights: The Economic Survey report 2018-19 has projected India’s FY20 economic growth rate at 7%. Coming just a day before India’s Budget 2019, the Economic Survey showed the health of the Indian economy and projected India’s economic growth for the fiscal year 2019-20. All eyes were on Budget 2019 and Economic Survey 2019 after a recent data released by the government showed a slump in GDP growth rate and high rate of unemployment in the country. The Economic Survey revealed signs of India’s economic revival and challenges ahead. It showcased the health of various indicators like jobs, farm sector, manufacturing, services, education, etc.

The Economic Survey is an important event right before the Union Budget 2019. An annual financial document, the Economic Survey generally analyses everything that happened with the country’s economy in the last financial year. It summarize the country’s economic health, performance on govt’s key programs, and points to the prospects of the economy. The detailed statistical data that encompasses macro and sectoral aspects give economists a deep-dive into the state of Indian economy.

Also Read | Economic Survey 2019 release date, time: How to download Budget Economic Survey pdf; when and where to watch

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Highlights Economic Survey 2019: Union Budget 2019-20 Economic Survey Highlights and Updates

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    15:12 (IST)04 Jul 2019
    Economic Survey 2019: Minimum wage system in India has expanded

    According to the Economic Survey 2019, over the last 70 years, the minimum wage system in India has expanded and has become more become complex. Click here to read more

    15:09 (IST)04 Jul 2019
    Economic Survey 2019: Production of milk growing

    Production of milk has been rising at an increasing rate, the change in its price shows a fluctuating trend. After rising 9 per cent in 2014-15, it increased only by 2.91 per cent in 2016-17

    15:01 (IST)04 Jul 2019
    Economic Survey 2019 reveals that is India is a low-inflation economy, officially

    One of the key policy focus areas is controlling the inflation. The govt has taken steps such as monitoring inflation regularly, giving advisories to the states against black marketing and hoarding, regular review meetings on prices and making sure the availability of key commodities to keep the inflation in check. Click Here to Read More

    14:56 (IST)04 Jul 2019
    Economic Survey 2019: How to make economic policies work as they are intended to?

    Making policy actions predictable should be the govt's priority and they should provide guidance and check economic policy uncertainty. These things greatly influences investments, domestic as well as foreign, in Indiaas per the Economic Survey for 2018-19. Click Here to Read More

    14:50 (IST)04 Jul 2019
    Chairman of EAC-PM Bibek Debroy on Economic Survey 2019

    14:42 (IST)04 Jul 2019
    Economic Survey 2019: Focus on MSME sector is positive

    “The Economic Survey 2019 has set the broad aim of achieving a sustained higher growth and the framework needed to achieve it. The primary idea of linking private investment, productivity, demand generation, exports, and job creation in order to achieve a sustained 8% real GDP growth could go a long way if followed in earnest in policy making. The focus on MSME sector was much needed as bulk of the job creation and growth support needs to come from this segment,” said Suvodeep Rakshit, Senior Economist, Kotak Institutional Equities.

    14:40 (IST)04 Jul 2019
    Economic Survey 2019 presents good news for industry

    “We welcome the positive news presented in the first Economic Survey of the second tenure of Modi government put forth by Chief Economic Adviser Krishnamurthy Subramanian. The GDP growth rate at 7 per cent in the financial year 2020, up from the 6.8 per cent last year is an affirmation towards the continued joint efforts taken by government and India Inc.,” Niranjan Hiranandani- National President- Naredco and Sr.VP - Assocham said.

    “The GDP growth has been seen picking up on higher private investment and robust consumption. It added that MSMEs need to be seen as a source of innovation, growth and job creation. It must be made free from the shackles that convert them into dwarfs.  This shows the intent and commitment of the government in the key growth areas. The survey affirms that investments would be a key driver with micro, small and medium term business being the key focus area,” he added.

    14:37 (IST)04 Jul 2019
    Economic Survey: Predictable policy action is key, says survey

    The Modi government should ensure that the policy actions are predictable and provide guidance in order to check economic policy uncertainty, which greatly influences domestic as well as foreign investments in the country, the survey said.

    14:34 (IST)04 Jul 2019
    Economic Suvrey: 5G provides an opportunity for India

    The upcoming 5G technology is an opportunity for Indian industry players to reach out to global markets while building a digital payment, knowledge and services economy, according to the Economic Survey 2018-19.

    14:32 (IST)04 Jul 2019
    Economic Survey: Economy moved to low fiscal path in last 5 fiscal years

    The rate of inflation rate moved to more stable and low level in the last five fiscals, and controlling price surge remains a key policy focus area of the government, the Economic Survey for 2018-19 said.

    14:28 (IST)04 Jul 2019
    Economic Survey: India needs to increase energy consumption

    The growth of the Indian economy will depend upon the ability to provide affordable, reliable and sustainable energy to citizens and the country is required to raise per capita energy consumption by at least 2.5 times to increase per capita income by $5000, the economic survey tabled in Parliament said.

    14:25 (IST)04 Jul 2019
    Economic Survey 2019 LIVE: NBFC crisis and consumption spending

    If the impact of stress in the non-banking financial company (NBFC) sector spills over to this year as well, it may lead to lower credit offtake from NBFCs, which may dampen growth in consumption spending,, CEA said in the survey.

    14:24 (IST)04 Jul 2019
    Economic Survey 2019: Investment is 'key driver' for demand

    Chief Economic Adviser Krishnamurthy Subramanian said in the survey that investment (especially private) is the 'key driver' that boosts demand. The same creates capacity, increases labour productivity, introduces new technology, allows creative destruction and generates jobs, he added.

    14:21 (IST)04 Jul 2019
    Economic Survey: Political stability and animal spirits of economy

    The political stability in the country should push the animal spirits of the economy, while the higher capacity utilisation and an uptick in business expectations should increase investment activity in 2019-20, the survey said.

    14:16 (IST)04 Jul 2019
    Economic Survey 2019: Indian economy poised to take off

    Economy is now poised to take off and India has grown faster than other economies, says CEA in his presentation on economic survey.

    14:13 (IST)04 Jul 2019
    Economic Survey 2019: Subramanian on demographic dividend

    China's savings rose as the proportion of its working population rose, India's demography in next 2 decades will enable a virtuous cycle of 8 per cent growth, adds CEA K Subramanian.

    14:00 (IST)04 Jul 2019
    Economic Survey: CEA K V Subramanian on wages

    An effective minimum wage policy that targets the vulnerable bottom rung of wage earners can help in driving up aggregate demand and building and strengthening the middle class: CEA K V Subramanian

    13:59 (IST)04 Jul 2019
    CEA K V Subramanian on Economic Survey LIVE

    India ranks poorly compared to other countries when it comes to ease of contractual enforcement. The problem of backlog of cases in courts is not insurmountable, can be solved within 5 yrs through productivity improvement & working during vacation: CEA K V Subramanian 

    13:58 (IST)04 Jul 2019
    Economic Survey: CEA K V Subramanian on Jobs and start-ups

    Firms that over time grow large are significant contributors to employment and value; need more focus on firms to reap economies of scale, rather than on firms which remain slow despite their age: CEA K V Subramanian

    13:57 (IST)04 Jul 2019
    Economic Survey: CEA K V Subramanian on Data

    One of the key things we are witnessing today is the power of Data, it can be particularly life-saving in rural areas when information is made accessible to the common man. Banks use fin tech to screen farmer's loans. Data can be visualised as a public tool, governments need to recognize and invest in this for growth: CEA K V Subramanian

    13:54 (IST)04 Jul 2019
    Economic Survey: Labour reforms provide one of the key constraints, says CEA

    Labour reforms provide one of the key constraints. We looked at the reforms that Rajasthan undertook as compared to other states. Be it number of workers and total output per factor has increased in Rajasthan - a key aspect to focus on for policy nudges: CEA K V Subramanian

    13:52 (IST)04 Jul 2019
    Economic Survey: CEA KV Subramanian addressing media

    Economic Survey2019 makes two key departures from traditional economic thinking- Economics of Equilibrium and Economics of Silos: CEA K V Subramanian

    13:50 (IST)04 Jul 2019
    Economic Survey 2019 Live: CEA on subsidies

    When we consume a subsidy, are we depriving someone else who deserves the subsidy more? As citizens, our duty matters a lot, not just our rights, to enable change in our economy: CEA K V Subramanian

    13:48 (IST)04 Jul 2019
    Economic Survey 2019 LIVE: CEA KV Subramanian on what needs to be done for #Economy5Trillion
    13:46 (IST)04 Jul 2019
    Economic Survey: Swachh Bharat contributed to improved health outcomes, says CEA KV Subramanian

    Sanitation should eventually matters for health outcome. Swachh Bharat has been a great example of behavioural change. Swachh Bharat has contributed to improved health outcomes in a very significant way: CEA KV Subramanian 

    13:43 (IST)04 Jul 2019
    Economic Survey: CEA KV Subramanian addressing media | WATCH LIVE
    13:42 (IST)04 Jul 2019
    Budget Economic Survey 2019: Amitabh Kant’s two-pronged formula to fulfil Modi’s investment dreams

    The government must focus on disinvestment and asset recycling to raise money in a bid to kick in the investment cycle in the country. The government can do a lot on the investment front, and there is a vast possibility for disinvestment, Niti Aayog CEO Amitabh Kant said in an interview to CNBC TV18 shortly after the Economic Survey 2019 was released on Thursday. Niti Aayog is going to recommend more PSUs for disinvestment, Amitabh Kant said.

    Also read: Budget Economic Survey 2019: Amitabh Kant’s two-pronged formula to fulfil Modi’s investment dreams

    13:37 (IST)04 Jul 2019
    Economic Survey: CEA KV Subramanian addressing media

    Increase in investment rate brings down unemployment. We are making key departure from the idea of thinking an economy as either virtuous cycle or vicious cycle, says CEA

    13:33 (IST)04 Jul 2019
    Economic Survey: CEA KV Subramanian addressing media

    Theme that underlies this Economic Survey is, the sky blue colour, the colour used for the survey, captures unfettered blue sky thinking which is what we've indulged in trying to come with the idea for this survey.  The economy is now poised for takeoff, adds CEA KV Subramanian

    13:26 (IST)04 Jul 2019
    Economic Survey 2019 LIVE: CEA K V Subramanian speaks
    13:25 (IST)04 Jul 2019
    Economic Survey 2019 LIVE: India will enjoy the “demographic dividend”

    India will enjoy the “demographic dividend” phase in the next two decades but some states will start transitioning to an ageing society by the 2030s: CEA K V Subramanian

    13:23 (IST)04 Jul 2019
    Economic Survey 2019 LIVE: From Swachch Bharat to Swasth and Sundar Bharat

     

    13:22 (IST)04 Jul 2019
    Economic Survey 2019 Live: CEA K V Subramanian says India needs to increase per capita energy consumption

    CEA K V Subramanian says India needs to increase per capita energy consumption to increase its real per capita GDP by US$ 5000 (2010 prices) and improve its HDI ranking to high level of human development

    13:13 (IST)04 Jul 2019
    Economic Survey 2019 LIVE: Major factors, reforms and risks

    Ecnomic Survey 2019: Major factors, reforms and risks are -- Role of demographics in the “virtuous cycle”- Role of job creation and earnings- The role of the financial sector- The risk-return trade-off in the economy

    13:08 (IST)04 Jul 2019
    Economic Survey 2019 LIVE: The next five years

    Economic Survey 2019 presents the outlook for the next 5 years

    • Emphasising growth
    • Virtuous cycle of savings, exports, investment and growth and investment to be its “central driver”
    • More jobs
    • Increase in exports
    13:05 (IST)04 Jul 2019
    Economic Survey 2019 LIVE: Five Accomplishments

    Last Five Years: The Accomplishments

    • Macroeconomic Stability
    • Beneficiary focus and targeted delivery
    • Infrastructure Development
    • Fiscal federalism
    • Corporate Exits
    13:02 (IST)04 Jul 2019
    Economic Survey 2029 Live: Job creation is driven by virtuous cycle

    "Job creation is driven by this virtuous cycle of savings, investment and exports. While the claim is often made that investment displaces jobs, this remains true only when viewed within the silo of a specific activity. When examined across the entire value chain, capital investment fosters job creation as the production of capital goods, research & development and supply chains generate jobs."

    13:00 (IST)04 Jul 2019
    Economic Survey 2029 Live: CEA's blue print for the Indian Economy

    12:47 (IST)04 Jul 2019
    Economic Survey 2029 Live: Key highlights

    • Under the Swachh Bharat Mission, over 9.5 crore toilets have been built across the country
    • Number of ODF villages grows to 5.5 lakh 
    • 93.1% of households have access of toilets with the help of SBM
    • Deaths due to diarrhea and malaria come down due to ODF

    12:43 (IST)04 Jul 2019
    Economic Survey 2019 LIVE: A snapshot of the Indian Economy
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